Zuckerberg States Libra’s Primary Task: Addressing External Concerns

Facebook founder Mark Zuckerberg mentioned in a media interview that many people have questions and concerns about the company’s cryptocurrency Libra. He said, “we’re committed to making sure that we work through all of those before moving forward.” 

The Nikkei reported that Zuckerberg mentioned in an interview that Libra was established to help people in emerging markets to use financial services. He also stressed the need to communicate with regulators to dispel their doubts about Libra, so the premise is to solve this problem before Libra can be launched.

Zuckerberg admits that when the company wants to make some changes and it will have an impact on society, it hopes that it will be possible to communicate with the outside world for a period of time and get a response from all walks of life. “[Facebook] has a very different approach than what we might have taken five years ago. But I think it’s the right way for us to do this at the scale that we operate in.”

In June of this year, when Facebook announced Libra’s plan, it immediately triggered global multi-country regulation. Institutions and central banks are concerned that the huge social platform with more than 2 billion users will affect the stability of the financial system after the issuance of cryptocurrencies.

In the above interview, Zuckerberg did not have much to say about Libra’s development, but shared the long-term development direction of the company in the virtual and augmented reality. He said that this technology can help people to connect. “This technology will be the first time people feel that they are with other people somewhere.” At the same time, virtual and augmented reality technology is expected to expand to work, Zuckerberg pointed out talented people are everywhere, but opportunities are very concentrated, usually in cities.

However, when virtual and augmented reality technologies can be applied, in addition to being able to choose where to live and join those communities, they can also get opportunities anywhere. In order for people to trust this technology, Facebook’s virtual reality device Oculus Rift will store the data in the device, not online.